Apple’s Key Fibonacci Levels

Apple just can't hold a bid since its big bounce off $505 on November 16th. It either opens at its high and trades down all day, or gaps down at the open, bounces and trades lower. Watch to see if this pattern can be broken.

The bears are still in control and we think a test of $500 is probable. If that holds it would be a decent long signal. A close of above $560.65, the 318 retracement bounce off $505, would be bullish.